Supervalu pulls back on major remodels

New York City Supervalu plans to conduct major remodels at approximately 75 to 80 locations in the current fiscal year, down about 50% from last year, Jeff Noddle, chairman and CEO of the Minneapolis-based company, said during a presentation at Barclays Capital's annual Retail and Restaurant Conference, according to Supermarket News.

In addition to the 75 to 80 major remodels planned for this year, Supervalu has plans for 30 to 40 minor remodels, plus three new conventional stores, and 50 and 60 new limited-assortment stores, including 35 licensed stores, as part of its previously reported $750 million cap-ex spending plans, the report said.